Bloomberg News

Ahlsell $700 Million Leveraged Buyout Loans Rise in First Trades

March 26, 2012

Ahlsell AB’s leveraged loans used to fund the acquisition of the Swedish building-products supplier by CVC Capital Partners Ltd. rose in initial trading, according to Nomura Holdings Inc.

A 530 million-euro ($700 million) term loan B maturing in 2019 was sold to investors last week at 98 cents on the euro and rose to trade at a mid price of 100.75 cents at 9:29 a.m. in London, Nomura prices show. The seven-year portion pays interest of 5.5 percentage points more than the euro interbank offered rate, according to data compiled by Bloomberg.

The loan was part of 10.2 billion Swedish-kronor ($1.5 billion) of debt backing Ahlsell’s buyout. A term loan B is sold mainly to non-bank lenders such as collateralized loan obligations, bank loan mutual funds and hedge funds.

Nordea Bank AB (NDA), Barclays Capital, Deutsche Bank AG, Goldman Sachs Group Inc., DNB NOR Bank ASA and Danske Bank A/S (DANSKE) arranged and underwrote the deal as bookrunners, Bloomberg data show. BNP Paribas SA, Commerzbank AG, Lloyds Banking Group Plc, Nykredit Bank A/S, SEB AB and UniCredit SpA (UCG) joined the deal at signing as non-active bookrunners and mandated lead arrangers.

To contact the reporters on this story: Stephen Morris in London at smorris39@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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